In April, a total of $579,262,822.66 was wagered on current and future in-person and online sports bets in Massachusetts. Retail licensees offering in-person sports wagering generated $364,481.54 in taxable gaming revenue during the month. The combined gaming revenue from six online platforms amounted to $58,548,295.26. The state collected a total of $11,799,200.04 in taxes for sports betting in April. MGM Springfield had a negative accrual winnings figure, indicating that they paid out more to bettors than they won in overall in-person bets. According to the Massachusetts Gaming Commission (MGC), when an operator’s adjusted gross sports wagering receipts for a month result in a negative number due to winnings paid to bettors and excise taxes paid under federal law exceeding the operator’s total gross receipts from […]

Illinois sports betting industry had a record-breaking March with total bets exceeding $1 billion, and the sportsbooks generated revenue of nearly $107.5 million. The March Madness basketball tournaments were a significant factor in driving the betting volume, and the bets on these games contributed to the new record for the month. In addition, Illinois ranked second in total handle and revenue in March, behind only New York. This year, Illinoisans collectively bet on the NCAA tournaments, leading to the difference in handle between February and March. Illinois is also among the only two US states showing growth in sports betting in 2023. Illinois is predicted to hold a solid spot as the second-best sports betting market in the nation by the end of the year.

On May 12, the Texas House approved two bills that would legalize resort casinos and online sports betting in the state. Bill HJR 155, which would allow for eight resort casinos and retail sports betting at casino locations, was approved 92-51, falling short of the two-thirds required for constitutional amendments. Bill HJR 102, which would legalize online sports betting in Texas, was approved by a vote of 97-42. Both bills still need to pass the Senate and gain support from Texas voters in November. The Senate has yet to hold a hearing on either initiative, and time is running out as the last day of the Texas Legislative session is May 29. The casino proposal has faced some contention in the House, particularly around the […]